Phocas Financial Corp. Buys 206,374 Shares of Community Healthcare Trust Incorporated (NYSE:CHCT)

Phocas Financial Corp. lifted its stake in Community Healthcare Trust Incorporated (NYSE:CHCT - Free Report) by 101.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 409,632 shares of the real estate investment trust's stock after purchasing an additional 206,374 shares during the period. Community Healthcare Trust accounts for 1.1% of Phocas Financial Corp.'s portfolio, making the stock its 29th largest position. Phocas Financial Corp. owned 1.45% of Community Healthcare Trust worth $7,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of CHCT. SG Americas Securities LLC increased its holdings in shares of Community Healthcare Trust by 10.5% in the fourth quarter. SG Americas Securities LLC now owns 10,791 shares of the real estate investment trust's stock valued at $207,000 after purchasing an additional 1,021 shares in the last quarter. Graham Capital Wealth Management LLC increased its holdings in shares of Community Healthcare Trust by 31.7% in the fourth quarter. Graham Capital Wealth Management LLC now owns 192,233 shares of the real estate investment trust's stock valued at $3,693,000 after purchasing an additional 46,217 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Community Healthcare Trust by 10.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 37,843 shares of the real estate investment trust's stock valued at $694,000 after purchasing an additional 3,473 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Community Healthcare Trust by 2.4% in the fourth quarter. Rhumbline Advisers now owns 47,909 shares of the real estate investment trust's stock valued at $920,000 after purchasing an additional 1,125 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Community Healthcare Trust by 17.3% in the fourth quarter. New York State Common Retirement Fund now owns 220,024 shares of the real estate investment trust's stock valued at $4,227,000 after purchasing an additional 32,469 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CHCT shares. Wall Street Zen raised shares of Community Healthcare Trust from a "sell" rating to a "hold" rating in a report on Saturday, February 8th. Piper Sandler lowered their target price on shares of Community Healthcare Trust from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Community Healthcare Trust currently has a consensus rating of "Hold" and an average price target of $21.00.

Insider Activity

In other news, Director Cathrine Cotman purchased 3,000 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was bought at an average price of $17.10 per share, with a total value of $51,300.00. Following the acquisition, the director now directly owns 23,861 shares of the company's stock, valued at approximately $408,023.10. This represents a 14.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Horn R. Lawrence Van purchased 11,815 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was purchased at an average cost of $16.37 per share, with a total value of $193,411.55. Following the acquisition, the director now directly owns 88,502 shares in the company, valued at $1,448,777.74. This trade represents a 15.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.10% of the stock is owned by company insiders.

Community Healthcare Trust Stock Performance

CHCT traded down $0.05 during trading on Friday, reaching $16.36. 269,167 shares of the company's stock were exchanged, compared to its average volume of 298,816. The company's fifty day moving average price is $16.52 and its 200-day moving average price is $18.10. Community Healthcare Trust Incorporated has a fifty-two week low of $14.76 and a fifty-two week high of $27.62. The firm has a market capitalization of $463.61 million, a PE ratio of -71.13, a P/E/G ratio of 1.28 and a beta of 0.74.

Community Healthcare Trust (NYSE:CHCT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. Community Healthcare Trust had a negative net margin of 2.75% and a negative return on equity of 0.65%. The company had revenue of $29.73 million during the quarter, compared to analyst estimates of $29.71 million. Research analysts forecast that Community Healthcare Trust Incorporated will post 1.85 earnings per share for the current fiscal year.

Community Healthcare Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a $0.47 dividend. This is a positive change from Community Healthcare Trust's previous quarterly dividend of $0.47. The ex-dividend date was Friday, May 9th. This represents a $1.88 annualized dividend and a dividend yield of 11.49%. Community Healthcare Trust's payout ratio is -606.45%.

About Community Healthcare Trust

Community Healthcare Trust Incorporated (the Company'', we'', our'') was organized in the State of Maryland on March 28, 2014. The Company is a fully-integrated healthcare real estate company that owns and acquires real estate properties that are leased to hospitals, doctors, healthcare systems or other healthcare service providers.